World ski body eyes financial reset after overspending and wants to add new events
The governing body plans more races and world championships after warning of projected annual losses of 20 million Swiss francs, officials said.
- The FIS is implementing a financial reset that includes cutting jobs and closing its Munich, Germany office to address rising expenses and a critical financial situation.
- FIS reserves have halved to about 43 million Swiss francs since 2021, while the governing body faced expected annual losses of 20 million Swiss francs .
- Staffing had nearly doubled from 50 to 98, prompting interim secretary general Urs Lehmann to note cuts were needed to become more "cost efficient," while COVID-19 era race prize money subsidies are being curbed.
- To generate revenue, FIS plans to add more competitions to the calendar, as Lehmann believes there is "more space" for growth before reserves are exhausted by 2028.
- While total revenue is set to reach almost 650 million Swiss francs through the four-year cycle, long-term broadcast contracts limit immediate gains; Lehmann stressed the rescue plan "works only if the FIS family is really standing together.
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The International Ski Federation (FIS) seeks to add new competitions to improve its finances after squandering its budget
The balance sheets of the International Ski and Snowboard Association (FIS) currently show a structural deficit of millions. According to the figures presented at the Council Meeting in Geneva, the association is still debt-free and insolvent, but equity declined by almost 50 percent from 81 to 43 million Swiss francs between 2021 and 2025 under ex-president Johan Eliasch. [...]
The International Ski and Snowboard Federation (FIS) has begun laying off staff and is preparing further cost-cutting measures to avert looming financial problems, its management announced after a meeting in Geneva.
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